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WHEREAS, Purchasers desir_ to assume acid pay the remaining indebtedness described above as evidenced by the aforementioned note and morrgage/ deed of trust; and 'tHER.EAS, Borrowers desire to be released `nom any farther obligation in respect to the above described rote af�d mortgage / deed of trust.,; and WHEREAS, Home 'edera i-, milling to permit the assumption, by Purchasers of the note and mortgage /deed of trust and release the Borrowers from the obligations evi- denced by the aforedescribed note and mortgage /deed of trust; subject, however, to a revision of the terms of payment of said indebtedness, NOW, THEREFORE, in c i_;erc:tion of the mutual covenants herein contained, it is agreed: 1. The undersigned Rurrhasers hereby assume and agree to pay the remaining in- debtedness evidenced by the af,,rE:described note and mortgage /deed of trust and perform all of the obligations provided 'here>i . and as modified hereby, it being agreed and understood that as of 'nis date -aid indebtedness is NINE THOUSAND EIGHT HUNDRED EIGHTY FIVE AND 30/ 100---------------------------- - - - - -- Dollars ($ 9,885.30 �. — 2. The terms of the repayment of the debt evidenced by the aforedescribed note and mortgage /deed of trust are hereby modified in that interest union the unpaid balance of said indebtedness shall be at ?.he rate of seven & one -half percent (7.5 %) per annum, and that monthly payments shall be made commencing on the 1st day of AUQUSt , 1986 ,; and continuing on the 1st day of each month thereafter, it being further agreed that such payments snail be in the amount of ONE HUNDRED SIXTY ONE & 12/100---- - ------ -- ---- ---- -- ---- ----- --- - - - - - -- Dollars ($161.12 i per month, to be ap- plied first to interest and the valence toDrincipal until said indebtedness is paid in full, and that, in addition, said Purchasers w1-11 pay the sum of FIFTY TWO AND 58/]00 ------------------------------------------ Dollars $: 52.58 per month in escrow estimated sufficient to pay --axes and insurance ,on said property, which estimate may be revised from time to time by Home Feder31,'making a total current payment of TWO HUNDRED THIRTEEN AND 70/100--------- - - - -- -^r- -- - --- --- - ---- -------- o11ar_- (S 213.70 pe ^onth. .3. Except as modified hereby, the note and mortgage /deed cf trust above described, shall remain, in full force and effect, and the undersigned Purchasers promise to r.;1y 'seid ind6dtt[lness as herein stated Find to perform all of the obligations of said =mort - gae)e deed of `trust as bore in revised. 4. By reason of this Le33n Modification and As<umpt or, ,Agreement, Hom., : ederal hereby; rel €zases and ±.,.ch6rr;os the urdeisignc,c+ original 'c,.sc. e:s from ' :ri* personal C�bli tInn upon ..aid s